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Thursday, April 13, 2006

TVNZ HY Results down on last year

Auckland -- On March 30, Television New Zealand reported its Interim
(Half Year) earnings to December 2005 that showed a net surplus after
tax of NZ$23.3 million compared to NZ$30.7 million in the same period
the year before.

TVNZ Chairman, Craig Boyce, described the result as satisfactory in
the context of a slowing economic environment. He also cited a
reduction in revenue resulting from the closure of TVNZ's satellite
services business and a decline in advertising revenue.

Programming highlights for the half year included TV ONE's extensive
election coverage, the extraordinary ratings and audience share
achieved for Desperate Housewives on TV2, and Frontier of Dreams -
the first comprehensive television history of New Zealand.

During the period TVNZ broadcast all but two of the top 50 programmes
watched by New Zealanders of all ages.

Continuing the pattern established last year, the Interim Report also
includes a reconciliation of Charter funding for all programmes
broadcast during the six month period.

The Full Interim Report can be downloaded at: http://
corporate.tvnz.co.nz